Minister enthusiastic about participation in oil and gas Conference

Charles J. Furey, Minister of Industry, Trade and Technology, stated today that he is enthusiastic about the level of participation in the 13th Annual International Petroleum Conference. "The number of delegates at this year's conference demonstrates the growing national and international interest in the province's oil and gas industry," says Furey. "The number of companies drawn to the conference indicates a bright future for the industry in Newfoundland and Labrador."

The two day conference is being organized by the Newfoundland Offshore Industries Association (NOIA) and is being attended by over 400 delegates from the oil and gas industry to Newfoundland and Labrador.

This year's conference entitled, East Coast Canada Oil and Gas: A Global Frontier, highlights East Coast Canada's oil and gas developments from a global perspective. The sessions offer insights into the long term plans of the major oil and gas companies, and demonstrates why and how the petroleum operators plan to develop the petroleum potential of Canada's East Coast. Projects such as Hibernia, Terra Nova, the Sable Offshore Energy Projects, as well as the exploration activity on Newfoundland's West Coast and Grand Banks, and offshore Nova Scotia provide the framework for this event.

Furey added, Newfoundland and Labrador has now established a firm foothold in the oil and gas industry. "There is tremendous opportunity for local companies in the province's oil and gas industry," says Furey. "We must capitalize on the new opportunities arising. Our goods, our services and our labour must be competitive if we are to survive in the international arena. The government will continue to work with the companies to achieve their goals and together we will ensure what has begun as a vibrant industry continues and expands in the years to come."

Some of the major oil companies attending the conference include, Petro-Canada, Mobil Oil, Chevron Canada, Norsk Hydro, PanCanadian Petroleum, Husky Oil and Amoco. The NOIA conference began today at the Hotel Newfoundland and will finish up tomorrow afternoon.

1997 06 09

2:30 p.m.

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